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2011 Hyundai Sonata

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Comments

  • backybacky Twin CitiesPosts: 18,618
    Well, it does happen. Happened to me in April 2009, and was very close to happening last February, with my wife's 2007 Sonata. In 2009, I made out very well and the replacement car was actually nicer than the totaled car (but used car prices were at a low point then). I don't worry about it, but I do keep up with the auto market as a hobby, and I know enough about cars such that I can find a car very quickly if one is totaled. That knowledge did come in handy in 2009, and last February I was able to quickly find several alternatives just in case the Sonata was totaled (but it wasn't). If someone is concerned about it, there's gap coverage.
  • ral2167ral2167 Posts: 641
    Yes i agree that the new sonata is the latest and greatest until the new redesigned camry and accords come out, then it'll be back to its malibu/altima/fusion/mazda 6 status. this is to be expected and nothing to get too upset about. i don't foresee camry's or accords losing their top 2 status in the foreseeable future. the camry accelerator problem was basically some drivers not being able to distinguish the accelerator pedal from the brake pedal-- perhaps their right foot was dyslexic. the accord coupe obviously has the better looks than the sonata-- although sonata 4 doors has edge in exterior styling compared with other 4 door sedans until the redesigns come out like i say. you'll be seeing more and more sonatas on the rental lots shortly, so that'll drive down resale. avis just put in a huge order of the gold mist color or whatever it's called, as hyundai was stockpiling that color for rental units (doesn't show the dirt so rental companies save on car washes). glad i could help here.
  • ewg54ewg54 Posts: 25
    edited July 2010
    If you lease a car then resale value is important because of early turn in. But if you keep a car for 8 to 10 years, not that important. Trade in value will be less than $2000 no matter if you have a Honda Toyota or Hyundai. :)
    I traded in a 2001 Infiniti G20T w/150,000 miles on the Sonata and was offered $1500 at trade in but I got $2000.
    And it was still a nice car.
  • schdyschdy Posts: 233
    edited July 2010
    I find it very difficult to believe that most people choose a new car based on it's forecasted resale value! I believe loyalty,price,epa ratings, style/features and convenience in that order are the real reasons. At one time safety features was a big factor but since almost all cars have caught up to 4 star plus it is no longer the determining factor. When leasing price takes into account resale value.
    I chose the Sonata because I could get a fully equiped quality car for considerable less money than the boring Honda/Camry and with a 10 yr warranty. And as another poster stated when the new Honda/Camry comes out and catches up with the Sonata I may be interested if the price and warranty are comparable.
  • schdyschdy Posts: 233
    I stand corrected I did find 2011 Sonatas available at Avis along with Lincolns,Caddilac,Camry,Etc. However no Honda. Your are correct that Honda does not do fleet sales.
  • backybacky Twin CitiesPosts: 18,618
    Honda does some fleet sales. I have rented Civics and Accords from Hertz before and have seen them in fleets in multiple cities. But I think the number of fleet sales for Honda is quite low, compared to those of other automakers.
  • noway6noway6 Posts: 6
    Do you also know that it is much cheaper to insure a Hyundai than a Honda? My insurance is about $580 for a 2011 Sonata Limited (clean driving record, full coverage, 500 deductible). I was a bit surprise by the low rate. I used to own a Accord LX, the insurance policy for the same coverage, clean driving record was over $1000 when it was new and the during first few years of ownership. I can save a few hundred bucks a year in insurance cost to make up the difference in resale value. I can actually end up doing better with worse resale value. Yes, Honda Accord resale value is better. I got $1900 for my 99 Accord with 150K on it. It was at the most $1900 better. Don't forget you pay more up front. :)
  • m6userm6user Posts: 2,892
    Nobody said that resale value is the most important consideration to buying a car....just one consideration. And the previous poster was correct...there is a reason for the higher resale value and those things can make the owership experience better. You can't deny that resale would impact even you if the car was totaled. You say that you have never totaled a car. I guess you don't need to buy insurance then.

    Lots of people only keep cars for three or four years(not financially the best but hey, it's their money) so resale is important. People that lease have a big stake in resale(residual value) value. So to say that it's not important is just false. To say it's just not important to you is fine. I happen to agree with you because I do keep cars for 7-8 years usually so it isn't a big player in my decision. However, I digress to the earlier point about there is a reason a car has high resale value.....people like them and think they're worth more!

    By the way, ALG, which is a respected source of info for setting residual values for car leases, has set the residual value of the 2011 Sonata at about the same or even slightly better than the Honda Accord. It's based on their formula so I don't quite know how it's figured but their computations are used by most leasing operations.
  • m6userm6user Posts: 2,892
    Honda Accords are very high on the auto thieves most wanted list and have been historically. Think it has something to do with there are so many of them on the road and their parts are valuable. This affects insurance rates to some degree. You also may have slipped into a cheaper age group for insurance or something else could have changed as well. Not saying any of things happened but there has to be a reason that a new car similar in price is that much cheaper for insurance.
  • chronochrono Posts: 149
    Just to add in my two cents, incentives play a large role in resale also. Honda Accords don't have as good resale like they use to since they now offer large incentives on them. Currently there's 1200 cash incentive going on. I remember Honda use to never give out incentives/rebates. But to keep sales up they throw rebates out there like everyone else. I do hope they up their game with their 2013 redesign but not exactly hopeful with their current design language. The Pilot was a huge let down and now the Odyssey, bleh ..
  • jimbresjimbres Posts: 2,025
    You say that you have never totaled a car.

    Go back & reread my posts. You'll see that I never said that. You're clearly confusing my posts with someone else's. Please read more carefully before you reply.

    Nobody said that resale value is the most important consideration to buying a car....just one consideration.

    That was precisely my point. I believe that I said that resale value could be thought of as a tie-breaker, which is another way of saying the same thing. Really, there's very little difference between our positions on this issue.
  • m6userm6user Posts: 2,892
    Honda and Acura designs have gotten so bad that I honestly believe they pay their mechanical engineers a little extra to do the exterior design work. They should do like Kia and hire a European designer.
  • m6userm6user Posts: 2,892
    I wasn't posting to you personally. Someone else said that and I should have stipulated that my reply was addressing points made by several differnt posters. I should have just made a new post rather than hit the reply button. My error and I'm sorry you took such offense to it.
  • dash5dash5 Posts: 410
    Yeah certainly something will come along and top the current leaders but it's not like it's a sure thing either. Honda seems to be going in the wrong direction with their cars, the Acura division as well. I was hoping the new TL would be for me but that turned out to be a bust. Will the next Accord be something great? The next Malibu? Camry? I have strong doubts but who knows. Fusion and Altima seem better bets to me. I guess my point is just that, the newest is not necessarily the new leader.
  • m6userm6user Posts: 2,892
    I wasn't posting to you personally. Someone else said that and I should have stipulated that my reply was addressing points made by several differnt posters. I should have just made a new post rather than hit the reply button. My error and I'm sorry you took such offense to it.

    Your point was that resale value is more of a tiebraker, my point is that to many people it is a very huge upfront consideration....not just a tiebraker but an important factor in their cost of ownership over a short period of time. I don't like blanket statements that assume what applies to me personally also applies to everyone else. To each their own.
  • m6userm6user Posts: 2,892
    Agreed. Look what Honda did in 2008 with their new redesign. Not pretty IMO and that was the latest and greatest for awhile.
  • schdyschdy Posts: 233
    Your point was that resale value is more of a tiebraker, my point is that to many people it is a very huge upfront consideration....not just a tiebraker but an important factor in their cost of ownership over a short period of time.

    I disagree. If your buying a car today how do you know the resale value in 4 or 5 yrs compared to another popular brand. My point is I paid $23k for my Sonata. Can you tell me what the resale value is in 2016. And if the comprable Honda cost $28k today what is it's resale in 2016.
    Can you realy determine the difference in cost of ownership between a 2011 Sonata and a 2010 Honda? And if the difference is $1k over 5, yrs someone will buy that car instead of the better looking, better equiped, and better warrantied car.
    Sorry but again I disagree. I've been buying new cars for over 40 yrs and it was never a consideration.
  • noway6noway6 Posts: 6
    I have never leased and it is just for my understanding. I thought at the end of the lease, you can either walk away or buy the car. What does "early turn in" mean and how does the low resale value play a role?
  • m6userm6user Posts: 2,892
    How have they determined resale values all those 40 years you've been buying cars? History. Auto manufacturers are big companies and they don't turn on a dime so it's assumed that if they made great cars for a decent period of time that they would have high resale value. Hyundai has recently gotten very good marks on many of their vehicles so their resale values will most likely go up. Edmunds has a 5 yr cost of ownership calculator that adds in depreciation but I have no idea how they figure that. I have not once said that a 2010 Accord will be worth more than a 2011 Sonata 5 yrs from now. Did I not quote ALG and say that they are estimated at this time to have approx the same residual value at 3 yrs? How do they know??? They are forecasting ahead based on the past few years. That's how they got those lease prices down to $199 that you were citing.

    Oh, by the way, I've been buying cars for 45 years and it has been a consideration for me at times, but not always. Does that make me right? No, I'm just one person and it's an opinion. And the fact that it was never a consideration for you means the same, it's just your opinion. You're one person and you don't have to reply that you polled all your friends and relatives that it doesn't matter to them either. But if you'd like to cite some reliable source or validated statistics that indicate that most people care less about resale value when they a buy a car it would be welcomed.
  • schdyschdy Posts: 233
    You're one person and you don't have to reply that you polled all your friends and relatives that it doesn't matter to them either.

    No reason for the sarcasim!
    And History as you stated does not predict the future vale of a used car!
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